Saudi Binladin Group, one of the largest construction firms in the kingdom, is currently meeting fixed income investors as it plans to issue a new local currency Islamic bond, or sukuk, sources aware of the matter told Reuters.
Roadshows are due to take place this week and next, at which point the size and pricing of the deal would be determined, a banking source said, speaking on condition of anonymity as he was not authorised to speak to media. All-in pricing is likely to be around 2.5 percent, a second banking source said, giving a spread over the three-month Saudi interbank offered rate (Saibor) of around 150 basis points...............................................Full Article: Source